After a few days of high volatility, the cryptocurrency market showed low volatility on November 23. As it happens, trading volume plummets, reflecting a momentary lack of speculative open interest in long and short positions.
Nevertheless, it is still possible to find short squeeze potential even amid a reduced open interest volume. In particular, by looking into the correlation between opened short positions and the traded volume in a given time frame.
Notably, four projects have a growing potential for a short squeeze if sentiment shifts from bearish to bullish until the weekend ends.
Bitcoin Cash (BCH) has $52.61 million of opened short positions in the last 12 hours, accruing for 52.62% of its 12-hour open interest.
Moreover, Avalanche (AVAX) has $216.49 million (51.83%), Polkadot (DOT) has $44.55 million (52.51%), and the Tellor Network token Tributes (TRB) has $120.21 million (52.25%).
Long/Short ratio on derivatives. Source: CoinGlass
In this context, Finbold looked into these
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